Hyundai eyes pole place in utility automobile market with compact SUV Venue, Auto Information, Automobilnews
Mumbai: South Korean carmaker Hyundai Motor has set itself a goal of gaining pole place within the Indian SUV market subsequent 12-18 months by overtaking Maruti Suzuki and Mahindra & Mahindra, a prime official mentioned.Hyundai Motor, which can launch its new compact SUV Venue within the subsequent couple of months, expects it to generate annual volumes of near 100,000 items and greater than double its UV gross sales within the nation to greater than 2,50,000
“We’ll grow to be a formidable participant within the SUV phase and with the Venue we’ll eye management within the SUV phase within the nation,” S S Kim, managing director at Hyundai Motor India, advised ET. “With Creta and Venue each put collectively we are able to do mixed volumes of 18,000 to 20,000 items (per thirty days).”
The nation’s prime carmaker Maruti Suzuki, led by Vitara Brezza, inched forward of M&M to take the pole place within the SUV market a few years in the past. On the finish of FY-19, Maruti Suzuki offered 2.64 lakh items forward of Mahindra & Mahindra which offered 2.35 lakh items, Hyundai on its half offered 1.25 lakh items in the identical interval.
Kim, who can be CEO at Hyundai Motor India, mentioned compact SUV is a quick rising phase within the nation the place his agency was not current. So no matter volumes that comes out of will probably be extra, he mentioned.Developed with an funding of over Rs 1,000 crore, the Venue shall be powered by three totally different powertrains — a 1-litre turbocharged petrol engine with the twin clutch 7-speed transmission, a 1.2-litre naturally aspirated petrol engine and a 1.4-litre diesel engine. The automobile boasts of over 33 linked automobile options together with 10 India particular ones. Superior excessive power metal (AHSS) and excessive power metal (HSS) will make up for 69% of the automobile to make sure its security.
The launch of Venue comes at a time when the passenger automobile market is rising at its slowest tempo in 5 years. Nevertheless, given its cyclical nature, Kim expects the market to bounce again within the second half of 2019 publish elections.
Hyundai Motor India plans to supply 7.44 lakh items in 2019 of which home gross sales is predicted to account for five.eight lakh items—a development of 5% over 5.5 lakh items the corporate offered in 2018.
Hyundai shall be banking on 4 new launches in 2019. After Venue, it plans to introduce its first 100% electrical automobile, the Kona EV, adopted by the brand new technology Grand i10 and a facelift of Elantra premium sedan.